WB, ADB team arrives in Kashmir tomorrow
To hold preliminary discussion with government officials
A team from the World Bank and the Asian Development Bank (ADB) is expected to arrive here Tuesday to hold preliminary discussions with the state administration to assess the needs and requirements in flood-ravaged areas of Jammu and Kashmir.
On October 9, this newspaper had exclusively reported that Government of India (GoI) has expressed its willingness to send a team of top-notch financial institutions to flood-hit State to “explore the possibility” of their intervention in rebuilding the State’s ravaged infrastructure.
Sources disclosed to Greater Kashmir that Union Finance Ministry has conveyed to the State government that the ‘mission’ comprising representatives from top-notch financial institutions would interact with state government officials on October 21 to get appraisal about the losses caused by the devastating floods last month besides discussing “what needs to be done for undertaking rehabilitation and reconstruction” in the affected areas.
“This is a preliminary meeting. After this, we are hopeful that they would depute a team of experts for carrying out sector-wise damage and need-assessment in affected areas. It could ultimately pave way for monetary assistance to the state in form of loans from these institutions,” they said.